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Timothy Franz Geithner (born August 18, 1961) is an American economist, central banker, and civil servant. He is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York. Geithner's position includes a large role in directing the Federal Government's spending on the late-2000s financial crisis, including allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration. At the end of his first year in office, he continued to deal with multiple high visibility issues, including administration efforts to restructure the regulation of the nation's financial system, attempts to spur recovery of both the mortgage market ...

Tim Geithner, US Treasury secretary, met immediate resistance to his regulatory reform package on Capitol Hill on Thursday, at the start of what promises to be a lengthy sales pitch to protect the white paper from critics in Congress.At a Senate hearing, the Treasury chief defended his proposal to grant new systemic risk regulation powers to the Federal Reserve, an issue that is vulnerable to being overturned by sceptical lawmakers.
“You cannot convene a committee to put out a fire,” Mr Geithner told the Senate banking committee, insisting that the Fed was the best body to guard ...

Treasury Department says the May shortfall was $189.6 billion, bringing the total deficit for the current fiscal year to $991.95 billion.
The deficit comes as the government has pumped billions of dollars into the economy to help fight the worst financial crisis in a generation."We're going to see very large budget deficits for the next couple of years," said Gus Faucher, director of macro economics at Moody's Economy.com.Running up a deficit is "necessary to end the recession," he said. "But after the crisis is over, the federal government will need to get its fiscal house in ...

Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery.“It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner said in an interview with Bloomberg Television yesterday. He added that the target is reducing the gap to about 3 percent of gross domestic product, from a projected 12.9 percent this year.The ...